Deputy PM reviews progress in handling of 12 struggling projects

Saturday, 2019-09-07 11:37:29
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Deputy PM Vuong Dinh Hue at the meeting (Photo: VGP)
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NDO - Deputy Prime Minister Vuong Dinh Hue chaired a meeting on September 6 to review the progress of concerned ministries, agencies and companies in the handling of 12 major struggling industrial projects.

The 12 projects were formerly under the management of the Ministry of Industry and Trade but 11 had been transferred to the Committee for Management of State Capital at Enterprises (CMSC).

According to the committee, although more than 75% of the tasks have been completed, the main difficulties still exist in the remaining tasks, primarily concerning legal obstacles to EPC contract and project settlement, debt restructuring and disinvestment plans.

Based on the reports and suggestions from corporations, the CMSC introduced specific solutions to radically address the weaknesses of these projects.

Concerning legal problems, Deputy PM Hue noted that if they are resolved by the end of 2019, the government will agree to resolution through court or international arbitration.

But he emphasised that priority should be given to negotiation and litigation should be minimised, adding that the decision to file a lawsuit is up to each company.

The Deputy PM praised the CMSC for quickly receiving the struggling projects from the MOIT and working on a comprehensive report to deal with them radically, while asking the committee to prepare a more detailed report to submit to the government for approval.